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China's oil and gas proved reserves remain high for five consecutive years

China's oil and gas proved reserves remain high for five consecutive years

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-03-31 14:57
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China's oil and gas proved reserves remain high for five consecutive years

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2020-03-31 14:57
  • Views:
Information

Although influenced by the factors such as excess capacity, the international oil prices lower, geological prospecting investment has slowed, but China's oil and gas proved reserves remain high growth for many years in a row.

China ministry of land and resources, director-general of the department of mineral resources reserves hai-feng yu 6, in Beijing, according to the 2015 China petroleum prospecting new proven geological reserves of 1.118 billion tons, is the thirteenth, also is the ninth consecutive year of more than 1 billion tons of; New proven technical recoverable reserves of 217 million tons.

The proven reserves of natural gas also continues to grow. In 2015, new proven natural gas geological reserves of 677.22 billion square, proven technical recoverable reserves of 375.435 billion new party. "Twelfth five-year" period, China's natural gas each year for five consecutive years proven geological reserves more than 500 billion square.

In addition, in the early development stage of shale gas is also very rapid growth. "Twelfth five-year" period, China's shale gas exploration breakthrough, accumulated proven geological reserves of 544.129 billion new party. Since 2014 into the business development, China shale gas production has reached 5.718 billion. 2015 national shale gas output by 2015, up 258.5% from a year earlier.

Since 2016, continue to hover around $30 a barrel international oil prices hit a low of more than ten years. International oil giant losses, upstream oil companies have also cut exploration investment. So low prices of China's oil and gas exploration affect the geometry?

Deputy director general of the ministry of land and resources of geological exploration department car long wave explained that low oil prices to is highly dependent on imported countries, such as China, it is very good. Some sounds that, since the international oil price so low, that's not mining exploration, direct purchase. But long wave, points out that once the oil is not production, so the international oil prices to react immediately. But why no leak of the petroleum exporting countries? Because once production, share by other countries, could hurt the whole oil industry, and after production of a large number of workers to settle problems. So even in the current under the condition of low oil prices, of the petroleum exporting countries are still in the store for production.

The problem of what to do, for China car long wave, points out that the ministry of land and resources put forward five measures: one is to increase the base oil and gas survey evaluation; The second is to increase its investment in oil and gas prospecting and exploitation; Three is to oil and gas resource potential evaluation; Four is to increase oil and gas prospecting and exploitation subject research; Fifth, to strengthen the regulation of oil and gas.

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